The employment in the UK's plastic packaging goods industry experienced fluctuations between 2013 and 2023, starting at 23.51 thousand in 2013 and reaching 24.42 thousand in 2023. Notable variations include a significant drop in 2016 followed by a substantial increase in 2017. Between 2022 and 2023, employment increased by 0.45%. When considering the compound annual growth rate (CAGR) over the previous five years, it shows a modest increase of 1.15% yearly on average.
Future forecasts suggest steady growth, with employment reaching 24.91 thousand by 2028. The forecasted five-year CAGR from 2023 to 2028 estimates a more conservative annual growth of 0.32%, indicating a gradual stabilization in the market.
Future trends to watch for include:
- Advancements in sustainable and eco-friendly packaging solutions.
- Impact of regulations on single-use plastics influencing employment dynamics.
- Technological innovations potentially leading to automation and reduced labor dependency.